OrbitaxBudget for 2012 – submitted to Congress On 8 September 2011, the Government submitted to the Congress the budget for 2012 ("Proposal for the 2012 economic programme" - Propuesta de Programa Económico 2012). In general, there are no substantial tax amendments included in the budget, but mainly changes concerning fiscal simplification in relation to tax receipts and reduction of federal administration fees (140 federal administration fees are terminated). The main tax measures are as follows. Income tax
|Proposed Changes|Mexico
| - | Interest paid to non-resident banks would be subject to withholding tax at the rate of 4.9%. | |
| - | Maquila activities (process or assembly of imported goods for resale to the country of origin or other countries): During tax year 2012, the non-resident principal would not be … |
